Question

From the data given calculate the following. (Round to the nearest hundredth or hundredth of a percent as needed.)
a. Current ratio
b. Acid test ratio
c. Asset turnover ratio
d. Gross profit rate
Net Sales ................. $300,000
Current Assets ............... 46,000
Gross Profit ................ 105,000
Current Liabilities ............ 23,000
Total Assets ............... 150,000
Merchandise Inventory .......... 13,000
Prepaid Expenses ............. 10,000



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  • CreatedApril 24, 2014
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